Stitch Fix, Inc. (NASDAQ:SFIX) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been assigned an average recommendation of “Reduce” from the six analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $4.50.

Separately, Telsey Advisory Group restated a “market perform” rating and issued a $6.00 price objective on shares of Stitch Fix in a research note on Wednesday, March 12th.

Insider Activity at Stitch Fix

In other news, insider Casey O’connor sold 50,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $3.04, for a total transaction of $152,000.00. Following the completion of the transaction, the insider now directly owns 575,755 shares of the company’s stock, valued at approximately $1,750,295.20. This represents a 7.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Stitch Fix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in Stitch Fix by 1.5% during the fourth quarter. Rhumbline Advisers now owns 149,625 shares of the company’s stock worth $645,000 after purchasing an additional 2,255 shares during the last quarter. Corebridge Financial Inc. increased its position in shares of Stitch Fix by 4.8% in the fourth quarter. Corebridge Financial Inc. now owns 50,355 shares of the company’s stock valued at $217,000 after buying an additional 2,295 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Stitch Fix by 4.1% during the 4th quarter. Federated Hermes Inc. now owns 96,504 shares of the company’s stock worth $416,000 after buying an additional 3,771 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Stitch Fix in the 4th quarter worth about $29,000. Finally, Cerity Partners LLC grew its stake in Stitch Fix by 31.1% in the 4th quarter. Cerity Partners LLC now owns 29,452 shares of the company’s stock valued at $124,000 after acquiring an additional 6,993 shares during the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Stock Performance

Shares of SFIX stock opened at $3.33 on Friday. The stock’s 50-day moving average is $3.51 and its two-hundred day moving average is $4.06. Stitch Fix has a 1 year low of $2.10 and a 1 year high of $6.99. The firm has a market cap of $428.89 million, a price-to-earnings ratio of -4.01 and a beta of 2.00.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The firm had revenue of $312.11 million for the quarter, compared to the consensus estimate of $298.04 million. During the same quarter last year, the business posted ($0.29) EPS. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, research analysts predict that Stitch Fix will post -0.44 EPS for the current year.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.